Get Mi Form 382 2025

Filling out the MI Form 382, the gas severance tax return, can be a straightforward process when you follow the correct steps. This guide will walk you through each component of the form to ensure accurate reporting.

Follow the steps to complete the MI Form 382 online.

1. Click the ‘Get Form’ button to access the MI Form 382 and open it in your preferred online editor.
2. In Part 1, enter your legal name in Box A, your Tax Identification Number in Box B, and the filing period in Box C. In Box D, select the return type: Estimated, Actual, or Adjusted. Finally, fill in your address details in Box E.
3. In Part 2, report all gas volumes in Mcf’s (1,000 cubic feet). On Line 1, enter the grand total of gas Mcf’s and their value from the corresponding Form 383. For Line 2, report exempt Mcf’s and values from Form 384. Line 3 requires you to subtract Line 2 from Line 1 for taxable Mcf's and values.
4. Continue in Part 2 by calculating the severance tax due on gas produced in Line 4, multiply the taxable value from Line 3 by 5% (.05). Repeat similar steps for natural gas liquids (NGLs) and condensate from Lines 5 to 12, ensuring each value is reported in barrels.
5. In Part 3, total the severance tax due by adding Lines 4, 8, and 12. For Line 14, sum the total values reported in Lines 3, 7, and 11. Calculate the oil and gas fee due on Line 15 by applying the current fee rate to Line 14.
6. Complete the total tax due in Line 16 by adding lines 13 and 15. Enter any previous estimated payments for the filing period in Line 17, and subtract it from Line 16 in Line 18 to find your total payment due on Line 21.
7. Finally, the form must be certified by signing in the appropriate sections for both the taxpayer and the preparer, if applicable. Once completed, users can save their changes, download the form, print a copy, or share it as needed.

Ensure your MI Form 382 is filled out correctly by completing it online today.